Ability to Attract and Retain Key Management Personnel and other Employees in the Shipping Industry Sample Clauses

Ability to Attract and Retain Key Management Personnel and other Employees in the Shipping Industry. Eagle’s success depends, to a significant extent, upon the abilities and efforts of its management team. The Reorganized Debtor’s success will depend on its ability to retain key members of its management team and to hire new members as may be necessary. The loss of any of these individuals could adversely affect Eagle’s business prospects and financial condition. In particular, during the pendency of the Chapter 11 Case, Eagle could experience increased levels of employee attrition, and its employees are potentially facing considerable distraction and uncertainty. The ability of Eagle to engage, motivate, and retain key employees or take other measures intended to motivate and incentivize key employees to remain through the pendency of the Chapter 11 Case is limited during the Chapter 11 Case by restrictions on implementation of retention programs. The loss of any of these key individuals could adversely affect Eagle’s business prospects and financial condition. Difficulty in hiring and retaining replacement personnel could have a similar effect. Eagle does not maintain “key man” life insurance on any of Eagle’s officers. The restructuring has consumed, and will continue to consume, a substantial portion of management’s time and attention, leaving them with less time to devote to the business operations. This diversion may materially adversely affect the conduct of Eagle’s business and, as a result, Eagle’s financial condition and results of operations, particularly if the Chapter 11 Case is protracted.
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Related to Ability to Attract and Retain Key Management Personnel and other Employees in the Shipping Industry

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